Accounting and analysis of bankruptcies of enterprises

If the Soviet leaders knew what the accounting and analysis of bankruptcies was, then the collapse of the centrally planned economy and the collapse of the USSR would have been avoided. The fact is that prior to the beginning of the 1990s, there was a huge number of enterprises in the Soviet Union that produced non-competitive products, profanely used the allocated resources, suffered losses, abused state financing and writing off debts. The concept of insolvency, or bankruptcy of the enterprise, was not acceptable, since it cast a shadow on the central leadership, indicating their incompetence in managing the financial and economic activities of enterprises, industries and the economy of the country as a whole.

For this reason, the transition to free economic relations in Russia is characterized by the massive ruin of former state organizations, and the "prihvatizatsiyu" allegedly unprofitable, depreciated and abandoned at the mercy of creditors enterprises. Only towards the end of the decade, with the help of legal norms for constructing a bankruptcy mechanism, it was possible to settle the relations of the debtor enterprise with creditors, with the possibility of preserving the property of the enterprise and restoring its economy. Accounting and analysis of bankruptcies have become the main methods of controlling and diagnosing insolvency. It allows you to take the necessary measures to improve the financial and economic activities of the organization.

In modern Russia, in a series of world crises, in the conditions of a shortage of financial resources, when the banking system raises the cost of loans, an analysis of the bankruptcy of an enterprise and support for its solvency remains an actual and essential task for its leadership. In such periods, the reasons for the financial problems can be caused by both the incorrectly chosen strategy of the enterprise in the conditions of severe competition, and reasons independent of the actions of the leadership, including the political and economic instability of the state and society, the development of scientific and technological progress, the emergence of new products.

Bankruptcy (insolvency) is the inability of the debtor to fully satisfy the requirements of creditor organizations for monetary obligations recognized by the state authority; The procedure applied to the debtor, aimed at assessing its financial and economic state, developing measures to improve it, and in the event that the application of such measures is found to be impossible, to the fair satisfaction of the financial interests of creditors of an insolvent enterprise.

On the one hand, bankruptcy is a phenomenon that can improve the economy of an individual enterprise and the economy of the country as a whole, by natural selection and liquidation of low-efficiency, noncompetitive enterprises, or their reorganization. On the other hand, bankruptcy is a set of social problems related to the reduction and dismissal of personnel, the cessation of support for the social sphere, as well as the emergence of crime and corruption in the process of redistribution of property.

The analysis of bankruptcy is an estimation of the probability of insolvency of the enterprise by studying the structure of the enterprise's balance sheet, calculation of liquidity indicators, profitability and financial stability of the enterprise. Such an assessment is aimed at making a decision on the liquidation, reorganization or organization of a new business. To monitor the implementation of decisions of bankruptcy procedures, accounting of financial transactions is organized in accordance with the current legislation.

Accounting and analysis of bankruptcies, in accordance with the law, includes the following stages of liquidation and reorganization procedures :

1) Observation . Determines the state of the company's solvency at the time of adoption by the court of an application from the insolvency of the debtor

2) Financial recovery . Measures are being taken to restore the solvency of the enterprise.

3) External management . Appoints an external manager, a representative of the creditor, designed to quickly restore the financial and economic state of the debtor enterprise.

4) Competitive production . The entire economic activity of the debtor enterprise is stopped, the property is valued, an inventory is made, and settlements are made with the creditors.

It should not be forgotten that accounting and analysis of bankruptcies is an important factor supporting the sustainable development of the country's competitive economy, but it remains an extremely negative phenomenon for the social sphere in the modern world.